Uruguay: Nucleic Acid Market 2024

Nucleic Acid Market Size in Uruguay

The Uruguayan nucleic acid market rose markedly to $X in 2021, growing by 5.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a resilient expansion. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market failed to regain momentum.

Nucleic Acid Exports

Exports from Uruguay

After four years of decline, shipments abroad of nucleic acids and their salts increased by 22% to X tons in 2021. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 689% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, nucleic acid exports contracted sharply to $X in 2021. Overall, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2018 with an increase of 45%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Kenya (X tons) was the main destination for nucleic acid exports from Uruguay, with a 65% share of total exports. Moreover, nucleic acid exports to Kenya exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. The third position in this ranking was held by Saudi Arabia (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kenya was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (+11.6% per year) and Saudi Arabia (0.0% per year).

In value terms, the largest markets for nucleic acid exported from Uruguay were Kenya ($X), the Philippines ($X) and Guatemala ($X), with a combined 66% share of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +28.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average nucleic acid export price amounted to $X per ton, shrinking by -36.7% against the previous year. In general, the export price showed a precipitous curtailment. The most prominent rate of growth was recorded in 2020 an increase of 52%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Kenya ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guatemala (+5.8%), while the prices for the other major destinations experienced a decline.

Nucleic Acid Imports

Imports into Uruguay

In 2021, the amount of nucleic acids and their salts imported into Uruguay skyrocketed to X tons, rising by 27% against 2020 figures. In general, total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +47.8% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 59% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, nucleic acid imports declined modestly to $X in 2021. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.4% against 2018 indices. The pace of growth was the most pronounced in 2018 when imports increased by 48%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest nucleic acid supplier to Uruguay, accounting for a 46% share of total imports. Moreover, nucleic acid imports from China exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+6.3% per year) and Spain (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of nucleic acids and their salts to Uruguay, comprising 37% of total imports. The second position in the ranking was taken by India ($X), with an 8.4% share of total imports. It was followed by the UK, with a 3.7% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +12.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-8.5% per year) and the UK (+6.3% per year).

Import Prices by Country

In 2021, the average nucleic acid import price amounted to $X per ton, shrinking by -23.3% against the previous year. In general, the import price continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2018 an increase of 29% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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